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Valoro Pays $22.7M for Miami Office Building
Valoro Capital acquired a 62,748-square-foot office at 1680 Meridian Ave. from Market Street Real Estate Partners for $22.7 million. Banesco USA provided a $15 million mortgage to the buyer.
The S. Florida Business Journal reports the office last sold for $23 million in 2015. The building recently underwent a renovation with new hurricane-resistant windows and a restored lobby.
The six-story building was built on the 11,250-square-foot lot just north of Lincoln Road in 1957.
Harry’s Pizzeria occupies the restaurant space, and Keller Williams and Groot Hospitality are among the office tenants. According to a recent online listing, 11,549 square feet of space is available at 1680 Meridian Ave. for $65 per square foot.
Douglas K. Mandel, Zach Levine and Josh Gilbert of Marcus & Millichap, along with Ericka Witkowski of Witko Group, brokered the deal.
- ◦Sale/Acquisition
- ◦Financing
